AQR Capital Management LLC Buys 13,682 Shares of TXNM Energy, Inc. $TXNM

Key Points

• AQR Capital Management LLC raised its position in TXNM Energy, Inc. by 8.2%, now holding approximately 179,818 shares valued at $9.6 million.
• TXNM Energy recently declared a quarterly dividend of $0.4075 per share, resulting in an annualized yield of 2.9%, with a payout ratio of 84.02%.
• Recent earnings revealed TXNM Energy missed consensus EPS estimates with reported earnings of $0.25, while revenue rose by 2.9% year-over-year to $502.42 million.

AQR Capital Management LLC increased its position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 8.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 179,818 shares of the company's stock after purchasing an additional 13,682 shares during the period. AQR Capital Management LLC owned about 0.19% of TXNM Energy worth $9,597,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TXNM. Hughes Financial Services LLC acquired a new stake in shares of TXNM Energy in the 1st quarter valued at $25,000. Versant Capital Management Inc bought a new stake in TXNM Energy in the first quarter valued at about $35,000. Fifth Third Bancorp acquired a new stake in shares of TXNM Energy in the 1st quarter valued at approximately $40,000. Financial Gravity Asset Management Inc. bought a new stake in shares of TXNM Energy during the 1st quarter worth approximately $41,000. Finally, Smartleaf Asset Management LLC bought a new position in shares of TXNM Energy in the first quarter valued at $43,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Stock Performance

Shares of NYSE:TXNM traded down $0.27 on Tuesday, reaching $56.62. 903,235 shares of the company's stock were exchanged, compared to its average volume of 810,286. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. TXNM Energy, Inc. has a twelve month low of $42.09 and a twelve month high of $57.42. The company has a fifty day moving average of $56.79 and a 200-day moving average of $54.99. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.69 and a beta of 0.09.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.21). TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The company had revenue of $502.42 million during the quarter, compared to the consensus estimate of $493.90 million. The company's quarterly revenue was up 2.9% compared to the same quarter last year. On average, research analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, August 8th. TXNM Energy's payout ratio is currently 84.02%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Scotiabank raised their target price on shares of TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 20th. Barclays restated an "overweight" rating and issued a $61.00 price objective (up previously from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. Mizuho downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Siebert Williams Shank lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Finally, Wall Street Zen cut TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $54.86.

TXNM Energy Company Profile

TXNM Energy, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.